Tesla (NASDAQ:TSLA) Price Target Raised to $236.00 at Truist Financial

Tesla (NASDAQ:TSLA) had its target price boosted by research analysts at Truist Financial from $215.00 to $236.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the electric vehicle producer’s stock. Truist Financial’s price target would indicate a potential downside of 5.63% from the company’s current price.

Other research analysts also recently issued reports about the stock. Robert W. Baird reissued an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Mizuho upped their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a $254.00 target price on shares of Tesla in a research note on Friday, September 13th. Wolfe Research started coverage on Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $210.54.

Tesla Stock Up 3.9 %

TSLA opened at $250.08 on Thursday. Tesla has a one year low of $138.80 and a one year high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market capitalization of $798.92 billion, a P/E ratio of 63.80, a price-to-earnings-growth ratio of 6.79 and a beta of 2.29. The business’s 50-day simple moving average is $224.00 and its 200-day simple moving average is $201.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. Analysts anticipate that Tesla will post 1.74 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,661 shares of company stock worth $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of large investors have recently modified their holdings of the company. Bank & Trust Co acquired a new stake in Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter worth $26,000. Abich Financial Wealth Management LLC raised its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. M&R Capital Management Inc. lifted its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in Tesla in the 4th quarter valued at $37,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.